Brazil-JBS to raise US$400 million.

BRAZIL-JBS-SWIFT.

Brazil’s JBS S.A. (JBSS3.BR), which controls leading

beef exporter Friboi, is planning to raise $400 million from an overseas bond

issue, a person familiar with the issue said Tuesday.

The bonds will mature in 5 years and will be issued through the company’s

international subsidiary JBS USA , the person said.

JPMorgan and Bank of America are coordinating the operation, according to the

person.

The company will begin a road show for potential bond investors later Tuesday

and it is expecting to set a price for bonds next week.

JBS will use the proceeds to repay inter-company debt and other corporate

purposes.

This is one of the first bond issues by a Brazilian company this year amid

the current credit crisis.

Earlier this month, Brazilian construction conglomerate Norberto Odebrecht

raised $200 million from an overseas bond issue. The bonds will mature in April

2014 paying an annual yield of 10%.

In February, state run oil company Petrobras (PBR) raised $1.5 billion via

10-year bonds.